Ethereum has rallied almost 60% in the last two months...and not only is the rally not over, it appears to be in its infancy.
Given the case that ETH has already completed a (1)-(2), and now we're subdividing in our wave (3). This portion of any impulsive pattern I expect to be the strongest portion of the rally. If my count is correct, I expect price to get above 2000 as the .786 Fibonacci level is the ideal resistance are for price to complete wave i of 3. However, with OMH, price could complete below the .786 as we should have a full micro pattern.
What is important is that once wave I and II of (3) completes (black arrows) once price then breaches the wave I high...price should head fairly expeditiously to the $3,300 to $3,400 for just the wave (3) of what I'm forecasting as an impulsive 5-wave pattern.
So, we continue to progress as forecasted. Although I cannot time this move, it would not shock me if by summer time Ethereum could be in the mid $3,000 level.
So far I have no reason to think Ethereum intends to go another route other than the above outlined pathway.
Best to all,
Chris
Given the case that ETH has already completed a (1)-(2), and now we're subdividing in our wave (3). This portion of any impulsive pattern I expect to be the strongest portion of the rally. If my count is correct, I expect price to get above 2000 as the .786 Fibonacci level is the ideal resistance are for price to complete wave i of 3. However, with OMH, price could complete below the .786 as we should have a full micro pattern.
What is important is that once wave I and II of (3) completes (black arrows) once price then breaches the wave I high...price should head fairly expeditiously to the $3,300 to $3,400 for just the wave (3) of what I'm forecasting as an impulsive 5-wave pattern.
So, we continue to progress as forecasted. Although I cannot time this move, it would not shock me if by summer time Ethereum could be in the mid $3,000 level.
So far I have no reason to think Ethereum intends to go another route other than the above outlined pathway.
Best to all,
Chris
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